Big Sales

Big Sales

Sutton Closes on Crown Building and Inks Deal for Aman Hotel

Jeff Sutton.

Last Friday, Jeff Sutton closed on the jewel of his Fifth Avenue empire—the Crown Building at 730 Fifth Avenue, which he purchased for a jaw-dropping $1.78 billion, with a $1.25 billion mortgage, that he bought with General Growth Properties. The seller was Spitzer Enterprises, led by former New York Governor Eliot Spitzer, and Winter Properties.

We also heard that a deal was finalized late last week for approximately $500 million to put an Aman Hotel from the fourth floor through the 24th floor of the Crown Building. Read More

Big Sales

Report: Biggest Three Commercial Sales of 2013 All Top $1B

30 Rockefeller Plaza

There were three whopping commercial deals in New York City last year in the trillion-dollar price range, blowing away the other commercial transactions for the year in terms of price, according to a report by PropertyShark provided exclusively to Commercial Observer

The priciest deal was Comcast’s $1.3 billion purchase of 1.3 million square feet of office and studio space at 30 Rockefeller Plaza, part of the media and communications giant’s $16.7 billion purchase of a 49 percent stake in NBCUniversal from General Electric. Read More

Big Sales

Bronx Housing Complex Sells for $24M

970 Boston Road in the Bronx

An affordable housing complex in the Morrisania section of the Bronx has sold for nearly $24 million.

Preservation Development Partners bought the Albert Goodman Plaza Apartments, at 970 Boston Road and 665 East 163rd Street, from Excel Bradshaw Management Group. The complex includes four elevator apartment buildings with 250 apartments and two commercial units. The sale price was $23.8 million. Read More

Big Sales

Upper East Side Office Building on the Block

It’s one of few commercial office buildings on the Upper East Side, and it’s just gone on the block, CB Richard Ellis brokers told The Commercial Observer yesterday. And based on recent activity in the area, the six-story office and retail building at 1556 Third Avenue could fetch nearly $65 million when prospective buyers begin looking at the asset. The price Read More